ImmunoGen Signs a Multi-Target License and Option Agreement with Vertex to Develop Novel Targeted Conditioning Agents
- ImmunoGen will receive $15M up front, ~$337M per target in option exercise fees & additional fees upon achievement of pre-specified development, regulatory & commercial milestones upon exercise of each option by Vertex along with royalties on global commercial sales of novel licensed targeted conditioning agents by Vertex
- Vertex gets the rights to use ImmunoGen’s ADC technology to research & evaluate ADC directed to specified targets along with an option to obtain exclusive development & commercialization licenses globally to a specified no. of targets
- Vertex is responsible for all costs related to the research, development, and commercialization of the compounds. ImmunoGen will hold full rights to the ADC technology for all targets not covered by the Vertex
Ref: Businesswire | Image: ImmunoGen
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